JS Bank Limited TERMS OF ACCOUNT GENERAL For the purpose of these Terms of Account, the word 'Bank' shall

refer to JS Bank Limited, Pakistan, it's successors-in-interest and assigns: 1. Any person(s) opening or operating an account with the Bank will be deemed to have read understood and accepted the terms of Account and the applicable schedule of bank charges issued and amended from time to time, by the Bank. No account will be opened by the Bank unless it is either properly introduced by our existing account holder(s) having a satisfactory relationship for more than six months or satisfactory bank references and ancillary information are provided. The Bank reserves the right to close any account or discontinue any banking facilities provided to any customer without assigning any reason. In case the Bank decides to close any account, it shall give an advance written notice o f seven clays to the account holder, requiring the account holder to withdraw the credit balance (if such account has credit balance and the customer is not indebted to the Bank in any respect). If after receipt of such notice, the account holder does not withdraw the balance, the Bank shall have the right to issue a pay order in the name of the account holder and dispatch the same by courier service at the risk and cost of the account holder. The charges for pay order and courier service shall be deducted from such credit balance before preparing the pay order. "On closure of an account it shall be incumbent or the account holder to return the unused cheques to the Bank. Alternatively, it must be confirmed to the Bank in writing without any loss of time that unused cheques have been destroyed.' Proper identification in the form of Computerized National Identity Card/Passport will be required before the Bank opens any account in its sole discretion. Each Account shall possess a distinctive number which shall be quoted in all correspondence with the Bank relating to the account. Any change of address of the account holder should immediately be advised to the Bank in writing. The Bank shall not be liable to the account holder for any direct or indirect loss or damage caused as a result of the failure of the account holder to send an intimation in writing of a change in address. In case the account holder leaves the country with intention of remaining abroad for six months or more in a year, or after leaving the country remains abroad for more than six months, he/she shall immediately inform the Bank. On receipt of such information from the account holder or through some other reliable source, the account will be re-designated, with regard to non-resident accounts. 6. 7. 8. Paid cheques and other records are normally retained by the Bank for a period of five (5) years. Term deposits are non-negotiable and cannot be transferred by endorsement or otherwise. The Bank is authorized to make such disclosures in respect of the account(s), as may be required by any court, State Bank of Pakistan or other competent authority or agency under the provisions or applicable laws and/ or otherwise to safeguard the interests of the Bank. If the Bank should retain advocates/lawyers to enforce any of its rights or take other steps concerning the account, the account holder shall pay to the Bank all costs, charges, fees and expenses incidental thereto on a full indemnity basis and the Bank shall be entitled to debit the account for such costs, charges, fees and expenses.

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10. The method of calculating return/profit under the profit/loss sharing scheme is governed by the prevailing local regulations/directives of the State Bank of Pakistan issued from time to time. The account holder shall not question the basis for determination of such profit/loss by the Bank and neither shall he/she have any right to request for any documents or other evidence from the Bank in relation to such determination.

In order to reactivate a dormant account a customer shall be required to visit the bank in person and submit the reactivation form along with a copy of the computerized national identity card or a copy of valid passport. The Bank may accept for collection cheques and other instruments payable to the account holder at his sole risk. All return/profit shall be of a provisional nature until finalized by the Bank. Foreign currency accounts/deposits are opened and maintained. The account holder shall not question the basis for determination of such interest/ return/profit by the Bank and neither shall he/she have any right to request for any documents or other evidence from the Bank in relation to such determination. b. The Bank shall determine from time to time the rate of interest/return/profit payable on the account/deposit in accordance with the prevailing rules and regulations of the State Bank of Pakistan and the policies of the Bank which are subject to change from time to time and the account holder agrees to accepts such rate of interest/return/profit. Theaccountholdershaliberesponsibleforkeepingchequebooks/formsunderiockandkey. the account holder shall issue written instructions under his authorized signature. there exists a loss of client contact that warrants treatment of the account as dormant. . subject to the Foreign Exchange Regulations and the directives and notifications of the Government of Pakistan and the State Bank of Pakistan. 19. 15. 18. after the rates are finalized. customers will be mailed the statement of account on a yearly basis. The Bank shall endeavour to collect such cheques and instruments promptly but the Bank accepts no responsibility for any delays. 12. c. All cheques and other instruments shall be crossed before they are deposited for crediting in the account. Interest on foreign currency term deposits is paid upon the respective maturity date of such deposit. any other reason for which the management considers it appropriate to classify an account as dormant. A customer's account will be deemed to be dormant when any of the following circumstances apply: a. 13. the account holder (or one of the account holders in the case of a joint account) is deceased or becomes mentally incapacitated. an account statement ( or any other communication mailed correctly to the address appearing on the statement ) is returned three times. in the opinion of the management. d. The Bank shall not be responsible in any manner whatsoever for misuse of cheques or fraudulent drawings. 17. e. there has been no client originated activity in a savings account for a period of 3 years and in a current account for a period of one year. Return/profit on accounts closed before June 30 and Dec 31 will be paid for the relevant period. For countermanding of or stoppage of payment against a cheque. 16. Once the account is classified as dormant. The Bank reserves the right to issue cheque books and/or fresh cheque forms only to the account holders (or their authorized representatives) who continue to conduct their accounts satisfactorily and maintain required minimum balances at all times. The Bank is authorized to deduct withholding tax and other levies in accordance with the applicable laws.11. rules and regulations. 14.Lossofacheque bookoranyofthecheque forms should immediately be notified to the Bank in writing. The Bank shall take reasonable steps to comply with such requests at the risk of the account holder.

The Bank reserves the right without prior notice to the account holder/depositor to debit the account for any expenses. central or provincial excise duty. For checks/drafts drawn in the USA or any other country. losses. The Bank reserves the right to refuse instruments drawn to the order of third parties. fees.D. 5. The Bank may. costs and fees which the Bank may incur or sustain on account of the Bank accepting for credit and/or crediting the account with proceeds of such checks. damages. unless prior endorsements are covered to the satisfaction of the Bank. DEPOSITS 30. suits. interest/profit coupons or other negotiable instruments drawn payable to the order of the account holder and/or to bearer and/or endorsed in favour of the account holder at the sole risk of the depositor/account holder and subject to realization. 2. Minimum monthly balance in saving account for accrual of profit/interest will be taken from the first to the last day of the month. drafts.E. warrants. the Bank's count shall be final and conclusive. any terrorist activities or any other unlawful purposes and that the sources of funds deposited in the account from time to time shall always be lawful. the relevant laws pertaining to such collections/realization may apply as applicable/required. In case of any error. claims. negotiable instruments. 26. 1. zakat. stamp duty. the Bank will not be obliged to allow any operation or withdrawal except on production of a succession certificate or other court order. owing to the Bank. 27. Uncleared items though credited shall not be drawn against and if the same are allowed to be drawn against. orders. (including but not limited to any loss arising from checks and other negotiable instruments being forged. 29. 3. if the amount indicated on the 'pay-in' slip differs from that of the "later cash count' conducted by the Bank. service charges will be levied as determined by the Bank from time to time as per schedule of charges.. remittances. markup/interest. 31. The Bank shall accept for credit to the account checks. remittances. In case of the Bank receiving notice of demise of an individual customer. the Bank shall be within its rights at all times to make the correct adjusting entries. whatsoever nature that may be. liabilities. Cash withdrawals from foreign currency accounts shall be subject to availability of foreign currency notes. provincial or local tax or levy and other costs. the balance in an account fails below the minimum balance requirement. etc. dividend. The account holder agrees to indemnify the Bank at all times and from time to time from and against all losses. from a court of competent jurisdiction. drafts. The Bank shall not be liable for any damages. The account holder shall be deemed to have represented to the Bank on Oath that the funds/account shall not be used for money laundering purposes. without prior notice and recover any amount due from the account holders depositors wrongly credited without prior notice. F. consequent upon such errors/adjustments.The Bank will take due care to ensure that the credit and debit entries are correctly recorded in the accounts of the account holder/depositor but incase of any error. The Bank may at any time(s) at its discretion and without notice assert a lien and/or exercise right or set-off any balance standing to the credit of the account and apply any part thereof to reduce any indebtedness. charges or expenses arising out of any transaction or operation of the account or term deposit with the Bank Charges for the service shall be levied as per the Bank's schedule of charges. from time to time prescribe minimum balances required for various types of accounts. Ail parties to a joint/partnership account shall be jointly and severally liable to the Bank for all liabilities incurred on the account. proceedings. withholding tax. expenses. counterfeit and/or obtained by fraudulent means) actions. the Bank shall be within . the Bank shall have the right to debit the account if the proceeds of the instrument are not realized. 28. orders etc. accounts. commission. In case. on banking services and any other federal.

WITHDRAWALS 36. certain transactions/withdrawals may be conducted at the Bank's branches in Pakistan under the countrywide banking facility offered by the Bank. 40. or any other facility. . The Bank shall not be liable for any loss or damage due to such errors. However. 35. Each account holder shall only be entitled to receive payment from the branch of the Bank where the account is maintained subject to applicable restrictions. Cash withdrawals from foreign currency accounts are subject to restrictions whether governmental or otherwise on the availability and convertibility of foreign currency at the relevant time. 34. 33. as may be imposed by competent authorities from time to time including but not limited to the Government of Pakistan and/or the State Bank of Pakistan. The Bank reserves the right to refuse payment of cheques drawn otherwise. the account holder must personally call upon the Bank where he/she maintains his/her account for such transactions. Any withdrawal of a term deposit before maturity shall be at the Bank's sole discretion and the rate of profit or interest applicable for the period such term deposit was maintained before withdrawal shall be at the Bank's sole discretion and penalties and costs associated with the premature encashment shall be levied and recovered in accordance with the prevailing policy of the Bank. 39. However. The Bank reserves the right to withdraw such facilities without any notice or assigning any reason.its right to make the adjusting entries to rectify the error without notice and recover any amount wrongly paid or credited together with any accrued interest/profit. In case a deposit matures on a public or bank holiday. 38. in the manner as notified to specific account holders from time to time by the Bank. whatsoever and JS Bank Limited shall not be liable for any loss resulting from the use of services or the withdrawal thereof. In the event any such account holder's balance drops below the monthly minimum balance requirement for three consecutive months. In the event that a notice in writing to renew a time/fixed deposit or other written instructions in respect of the time/fixed deposit are not received by the Bank at least 3 business days prior to the maturity of the deposit. then the Bank shall pay the deposit and/or the interest/return/profit thereon on the next working day when the Bank is open for business. Cheques may only be drawn on printed forms supplied by the Bank. Cash deposits in the following foreign currencies are acceptable to the Bank: U. 37. An account holder may not withdraw money from his account. Euro and Japanese Yen but the Bank reserves the right to decline handling of any such cash transactions at any time without assigning any reason. 32.S. Pound Sterling. Withdrawals may also be made by counter cheques. which may cause his account to drop below the prescribed minimum balance requirement. to the former account holder at the last known address of such account holder available with the Bank. the deposit shall automatically be renewed for a similar period and on similar terms as held by the Bank previously. which are available at the Bank. less relevant bank charges. the Bank reserves the right to close such account forthwith and refund any balance. A charge for such cash deposit may apply. if any. Dollars.

The following terms and conditions in addition to the relevant terms and conditions mentioned herein above shall apply to foreign currency accounts and deposits. the Bank reserves it right to make adjusting entries to rectify the error without notice and recover any amount wrongly paid or credited to any person together with any accrued interest/profit. Any discrepancy in the statement of account should be promptly brought to the notice of the Bank in writing within fourteen days of dispatch. preferably under lock and key. When not in use.[other than those opened pursuant to F. Interest on foreign currency savings accounts is paid in June and December every year. ACCOUNT STATEMENT: DUE NOTICE 43. However. No Profit or interest is paid on current accounts. 45. The Bank will take all reasonable steps to comply with timely requests for stop payment of cheques but the Bank disclaims any and all liability arising out of or in connection with presentation of stolen and/or lost cheques.E Circular No. the Bank shall not be liable for any loss or damage due to such error(s) or any consequential loss arising therefrom. Profit on Rupee term deposit is disbursed on monthly/quarterly/six monthly or on maturity based on the tenor or the deposit at the option of the account holder. The Bank reserves the right to issue cheque books and/or fresh cheque forms only to persons properly introduced or known to the Bank who continue to conduct their accounts satisfactorily and maintain required minimum balances at all times. In all other cases. The Bank may at any time(s) at its discretion and without notice assert a lien and /or exercise a right of set-off on any balance standing to the credit of any account of the account holder and apply any part thereof to reduce any indebtedness of whatsoever nature that may be owing to the Bank.41. failing which the statement of account shall be deemed to be final and conclusive. Basic Banking Account. then if any one of the signatories dies. RETURN ON ACCOUNTS 46. For term deposit rollover. Interest on time deposit is paid upon respective maturity dates of such deposits. Periodical statements of account shall be issued by the Bank to the concerned account holder. CHEQUEBOOKS 44. Profit on Rupee PLS saving accounts is paid twice a year for periods ending June and December after respective profit computations are completed for each period and profit on Rupee Plus account is disbursed on a monthly basis subject to final adjustment in accordance with applicable regulations. 42. All these rates are subject to final adjustment as per applicable regulations. FOREIGN CURRENCY DEPOSITS 50. 48. 47. Loss of a chequebook or any of the cheque forms should be immediately notified to the Bank in writing. Where operation of a joint account with the Bank by a single signature is permitted. no withdrawals shall be allowed upon the death of the account holder except on production of a succession certificate from a court of competent jurisdiction. the rate applicable for that day will apply. In the case of any error. 49. whether in respect of local or foreign currency. cheque books/forms should be kept in a safe place.25 dated 20th June l998. Issued by the state Bank of Pakistan]: (a) A foreign currency account and/or a foreign currency deposit with the Bank is held by the Bank and subject to the directives of the State Bank of Pakistan as contained in chapter VI of the . any other signatory shall be entitled to make withdrawals if it has been specified in the account operating mandate.

adverse events and conditions which render the Accountable Branch incapable or unable to implement financial transactions and /or obligations and in all such events including an act of the Government of Pakistan or any instrumentality of the Government of Pakistan. 25 dated 20th June. failure or refusal by the State Bank of Pakistan to release foreign exchange on maturity dates and /or any other events which render the transaction impossible or incapable of performance in the normal course of banking and 1 or by virtue of events and circumstances beyond the control of the Accountable Branch and such events shall include war. 13 dated 2nd June 1 999 or any further circular or directive issued by the State Bank of Pakistan. The proceeds of foreign currency accounts and /or foreign currency deposits shall be lent/invested/placed within Pakistan or abroad under and in terms specified in F. The account relationship and all deposits are governed by and subject to the laws of Pakistan as may be effective from time to time during the relative deposited period. The account branch of the Bank (Accountable Branch) is at full liberty to employ/ utilize the foreign currency funds in accordance with F. insurrection or civil strife or action by the government or any instrumentality of or in Pakistan perverting such payment (whether dejure or defacto) to be made to the account holder (s) in the requisite foreign currency. 1998 and F.E circular No. orders and circulars issued by the State Bank of Pakistan from time to time during the relevant period. directives. C. 25 dated 20th June. nor its affiliate or entity shall be liable for repayment of the credit balance in an account or deposit in the event that the Accountable Branch is rendered incapable of performing its obligations by reason of imposition of foreign exchange controls. (b) The Bank shall not be liable to the account holder(s) in the event of failure or the inability of the State Bank of Pakistan to release the requisite foreign currency for any reason whatsoever or an act of war. 1999 issued by the State Bank of Pakistan and as modified from time to time shall be governed by the following terms and conditions in addition to the relevant terms and condition hereinabove: a. expropriation.E circular No. policy decisions of the Government of Pakistan announced from time to time during the relevant period.E circular No. disorders. political disturbances. 1998 and F. uprising.E circular No. whether dejure or defacto preventing or rendering incapable implementation of banking / financial transactions involving repayment to b. The account relationship and all deposits shall be governed by and be subject to the laws of Pakistan as may be effective from time to time during the relevant period. 1999 as amended from time to time. ban on foreign exchange dealings and transactions. All amounts deposited in the account or deposited for specified period(s) are required to be sold to the State Bank of Pakistan. 13 dated 2nd June. freezing of foreign currency accounts / deposits by the Government of Pakistan or the State Bank of Pakistan. Foreign currency accounts and deposits opened pursuant to F. 1998 as amended by F. Such amounts and/or deposits shall be payable only at the branch in Pakistan where the account is opened or the deposit is made. 13 dated 2nd June. Re payment upon demand or order or upon maturity will be conditional and subject to release of the requisite foreign exchange by the State Bank of Pakistan.Foreign Exchange Manual and all directives and circulars issued by the State Bank of Pakistan from time to time.E circular No. 51. civil commotion. Suchiending/placementlinvestmentshallincludeplacement/deposits/investment of foreign currency funds with State Bank of Pakistan in different maturities and different rates of return as may be prescribed by the State Bank of Pakistan from time to time. The foreign currency account and/or the foreign currency deposit with the Bank is subject to the exchange control regulations of the State Bank of Pakistan as contained in the Foreign Exchange Manual and all directives and circulars issued by the State Bank of Pakistan from time to time commencing from and including F. 25 dated 20th June. Neither the Accountable Branch of the Bank in Pakistan. 13 dated 2nd June 1999 or such further or other circulars. . directives or orders issued by the State Bank of Pakistan from time to time.E circular No.E Circular No.

or interest/profit thereon is subject to any acts of the Government of Pakistan or the State Bank of Pakistan or any competent governmental and other regulatory authority in Pakistan. 1 000 (Rupees One Thousand). g. Such amendment/ alteration to these terms of account shall be notified to the account holder(s) and/or displayed at the Bank's premises from time to time and shall be binding on the account holder(s). d. There shall be no limit on minimum balance. directives. or any other cost. the relevant bank may recover charges for such transactions. commission. the Accountable Branch shall stand released and discharged from further performance of the transactions. Repayment of any deposits. There shall be no fee charged to the account holder for maintaining a BBA.D. f. and restrictions issued by competent governmental and other regulatory authorities in Pakistan and the liability of the Bank for payment is governed by applicable laws and regulations in force in Pakistan at the relevant time. laws. markup/ interest. stamp duty. 16. charges or expenses arising out of any transactions or operation of the account or term deposit with the Bank or as may be payable to the provincial or federal government as may be levied from time to time. such accounts may be closed by the Bank. therefore. and 24 of the terms of account. The following terms and conditions are applicable to the Basic Banking Account (BBA) in addition to other relevant terms and conditions specified hereinabove: a. 56. C. b. A BBA can be opened with a minimum initial deposit of Rs. withholding tax. by whatever name called. The account holder shall be allowed unlimited. duty. However. F. 54. free of charge ATM withdrawals from the Bank's own ATMS. 55. account balances.or by the Accountable Branch. . free of charge through cash/clearing per month. The account holder shall not have any recourse against the head office or any branch of the Bank in respect of the payment of any deposits. zakat. the Bank shall have the right to close such account after giving 7 days notice to the depositor. The terms specific to the BBA are applicable notwithstanding anything to the contrary stated in clauses 15. Any such rights of recourse are hereby expressly waived. tax. e. regulations. orders. BASIC BANKING ACCOUNT (BBA) 52. In case of withdrawals from BBA through the ATM machines of other banks. no interest or mark-up will be paid into a BBA. Any transactions above the aforesaid shall be subject to a charge levied by the Bank. In the event that the depositor does not consent to the proposed alterations. decrees. In cases where balance in BBA remains 'Nil' for a continuous period of 6 (six) months. Statement of account shall be issued once a year. the terms of maintaining an investment account or other deposits for fixed periods with the Bank. The BBA shall operate as a non-remunerative account. shall be alterable with the written consent of the depositor. on banking services. The account holder shall be allowed a maximum of two deposit transactions and two chequing withdrawals. The Bank reserves the right to add to or alter these terms of account at any time at its absolute discretion.E. h. account balances or interest/profit thereon maintained and/or accruing with the Bank. GOVERNING LAWS 53. fees. The Bank is subject to all applicable circulars. The Bank reserves the right without prior notice to the account holder to debit the account for any expenses. rules.

DECLARATION . by-laws and directives applicable to the Bank including. This application. Signature of Applicant(s) Date Signature of Applicant(s) Date . 1/We agree to provide any document requested by the Bank according to the type of account(s) requested and to abide by the terms of account of the Bank as amended from time to time for the conduct of such accounts. have read them. The account(s) to be opened pursuant to this application.TO BE SIGNED BY ALL 1/Weapply to open an account with JS Bank Limited as specified hereunder.UNCLAIMED DEPOSIT 57. except deposits in the name of a minor or a Government or a court of law. directions. all funds deposited therein and all transactions in relation thereto shall also be governed by all laws. regulations. The Bank is required to surrender to State Bank of Pakistan all those deposits/financial instruments which have not been operated upon during the period of last ten years. rules. will be deemed to be an agreement between the Bank and the applicant and the sections hereto once completed. and circulars issued by the State Bank of Pakistan and all amendments that may be made from time to time to all or any of the above. once accepted by the Bank. 1/We have received the duplicate copy of account opening form duly signed by me/us. agree with them and agree to be bound by them (as amended from time to time). ]/We have received a copy of terms of account. regulations. 1/We hereby certify and confirm that all the information provided herein is true and correct. decrees. shall be treated as an integral and indivisible part of the same.

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